Canada's D Films Pushes East West for Credit Facility
The expanding Canadian indie distributor closes a credit facility with the California-based Chinese-American bank to grow its film release slate.
TORONTO -- D Films has negotiated a credit facility deal with East West Bank, making the Canadian indie film distributor the latest to grow its film slate to fill a market gap left by Entertainment One acquiring Alliance Films.
Terms of the deal with the Chinese-American bank based in California were not disclosed.
But industry sources point to a seven-figure finance package that provides D Films with funds for film acquisition and puts the Toronto-based outfit on firm financial footing as it seizes opportunities for growth.
D Films' upcoming releases include the Kristen Wiig comedy Welcome to Me, Paul Haggis' Third Person and Jennifer Aniston-starrer Cake.
The indie outfit, led by president and CEO Jim Sherry, has had recent film releases like Fred Schepisi's romcom Words and Pictures, which stars Clive Owen and Juliette Binoche.
Entertainment One last year acquiring Alliance Films to create a Canadian indie giant opened the way for market rivals like D Films, Elevation Pictures and Mongrel Media to raise their game in acquiring product at home and internationally.
The credit facility was negotiated by David Henry for East West Bank and Sherry and Colin McLeod for D Films.